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established at the time of the issuance of the occupancy permit ("lnitial Rent Schedule") and shall be created in accordance with the Orange County, California Primary Metropolitan Statistical Area ("PMSA") as published by the California Department of Housing and Community Development ("HCD"), adjusted for family size, and shall be updated no less than annually. 1.1.4 "Affordable Units" means eleven (11) units, which shall be comprised of three (3) studio units, four (4) one -bedroom units, and four (4) two -bedroom units for Very Low Income Tenants. Any change to the number or distribution of Affordable Units is subject to City Manager approval. L L5 "Agreement" means this Density Bonus Housing Agreement. 1.1.6 "City" means the City of Santa Ana, California 1.1.7 "City Council" means the City Council of the City of Santa Ana. 1.1.8 "City Attorney" means the City Attorney for the City of Santa Ana. 1.1.9 "City Manager" means the City Manager for the City of Santa, Ana. 1.1.10 "City`s Planning Commission" means the Planning Commission for the City of Santa Ana. 1.1.11 "Density Bonus Housing Agreement Term" means the period during which this Agreement shall be in full force and effect, as provided for in Section 6.1 below. 1.1.12 "Developer" means QOZB 11I, LLC, a Delaware limited liability company, and its permitted successors and assigns to all or any part of the Property. "Developer" may also be referred to as "Owner" interchangeably throughout the Agreement. 1.1.13 "Effective Date" means the date the City Council of City approves this Agreement and from then on this Agreement shall be in full force and effect. 1.1.14 "Eligible Household" means a Household whose income does not exceed the qualifying limit for a "very -how income tenant" as defined herein, which means persons and fami lies whose income does not exceed the qualifying limit for very -low income households. 1.1.15 "Household" means all persons residing in a Unit. 1. L 16 "Median Income" means the Orange County, California area median income, adjusted for family size appropriate to the unit, as periodically published by IICD. 1.1.17 "Monthly Rent" means the total of monthly payments for (a) use and occupancy of each Affordable Unit and land and facilities associated therewith, (b) any separately charged fees or service charges assessed by Developer which are required of all tenants, other than security deposits, application fees or credit check fees (c) a reasonable allowance for an adequate